Scott Bessent confirmed as Treasury head amidst bipartisan support
The US Senate has confirmed Scott Bessent as the head of the Department of the Treasury. The candidate gained the votes of a substantial majority of the chamber, including 23 Democrats. Bessent, a well-known financier, is the fifth member of Donald Trump's cabinet to be confirmed by the Senate.
Bessent's nomination was approved by a vote of 68-29, with 23 Democrats voting for the Republican.
During the hearings before the Senate Finance Committee, the billionaire and one of the campaign sponsors declared support for extending the tax cuts implemented during Trump's first term, as well as introducing new tariffs and the independence of the Federal Reserve. He also argued that the tariffs announced by Trump would not lead to higher prices for American consumers.
Appeal to the Kremlin
Bessent also expressed support for increasing sanctions against Russia, including those in the oil sector.
- I will be 100 percent on board for taking sanctions up, especially on the Russian oil majors, to levels that would bring the Russian Federation to the table - he declared.
The new Secretary of the Treasury was previously a partner in George Soros' investment fund, and most recently led the fund he founded, Key Square Capital.
Thanks to the Senate vote, he became the highest-ranking gay man in the American administration.
